Payout & Refund FAQs

1. Is there an API to list a bank account for the end user?

Yes, you can add a bank account for the end user at any time using the “Create a customer profile bank account” API. https://docs.straitsx.com/reference/create-customer-profile-bank-account

2. Can I schedule payouts in advance?

Currently, our API does not support scheduled payouts, but you can set up a recurring job in your backend to automate payout requests.

3. Are payouts processed instantly?

Yes, all payouts are processed instantly through the StraitsX API. However, the actual time it takes for the recipient to receive the funds depends on the currency, transaction size and banking network. Additionally, some payouts may be held or blocked due to internal fraud prevention and compliance reviews.

4. Can I recall or cancel a payout after it has been initiated?

No, once a payout request is processed, it cannot be recalled through the system. Please double-check payout details before execution.

5. What are the required fields for adding a payout recipient?

The required fields for adding a payout recipient depend on the integration model you have adopted and the disbursement method.

• 1st Party Integration Model - Payout can only happen to the same bank account that did the payment transaction.
• 3rd Party Integration Model - refer to https://docs.straitsx.com/reference/create-a-customer-profile-payout-recipient.
• Regular Transfer Model - refer to https://docs.straitsx.com/reference/create-a-payout-recipient.

6. Do you offer APIs for refunds and cancellations?

Right now, we do not offer APIs for refunds and cancellations. Alternatively, you may use our incoming fund bank account information and use Payout API for refund.

7. If the recipient's bank rejects the money, what the withdrawal order status will be?

If the withdrawal is rejected and refunded by the beneficiary bank, the withdrawal status on our side will still be completed and the refund will be treated as a separate deposit.

8. If the user makes a successful deposit but initiates a charge back, will you refund the money to the user and notify us?

The sender has the option to request for a SWIFT reversal with the sending bank, after which the sending bank will then forward this request to the receiving bank and the bank will subsequently reach out to the sender(StraitsX) for approval.

Approval is subjected to location and sufficiency of the originating amount. If deposit is already credited to you, StraitsX will reject the request and sender will be advised to reach out to you for resolution.

9. What are the different API transaction types?